Crude oil futures up on overseas cues

March, April contracts gain about 0.3% on firm trends in Asia

Crude oil futures prices rose by 0.28 per cent to Rs 4,965 per barrel today as speculators created fresh positions amid a firm trend in Asia.
     
At the Multi Commodity Exchange, crude oil for delivery in March gained Rs 14, or 0.28 per cent, to Rs 4,965 per barrel, with a business turnover of 17,894 lots.     

April crude moved up by a similar margin to Rs 5,015 per barrel in a turnover of 1,419 lots.     

Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia on bargain buying after prices hit multi-weeks lows.
     
Meanwhile, crude oil for April delivery advanced by 21 cents to $90.33 a barrel on the New York Mercantile Exchange.